Canada Markets closed

Aurora Cannabis Inc. (ACB) Stock Sinks As Market Gains: What You Should Know

Zacks Equity Research
BRP Inc. (DOOO) doesn't possess the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.

Aurora Cannabis Inc. (ACB) closed at $9.05 in the latest trading session, marking a -1.95% move from the prior day. This change lagged the S&P 500's 0.88% gain on the day. Meanwhile, the Dow gained 0.55%, and the Nasdaq, a tech-heavy index, added 1.32%.

Heading into today, shares of the company had lost 0.22% over the past month, outpacing the Medical sector's loss of 6.83% and lagging the S&P 500's gain of 3.96% in that time.

Wall Street will be looking for positivity from ACB as it approaches its next earnings report date. In that report, analysts expect ACB to post earnings of -$0.04 per share. This would mark no growth from the year-ago period. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $61.42 million, up 382.06% from the year-ago period.

ACB's full-year Zacks Consensus Estimates are calling for earnings of -$0.18 per share and revenue of $224.47 million. These results would represent year-over-year changes of -250% and +417.53%, respectively.

Investors should also note any recent changes to analyst estimates for ACB. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.

Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.

Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Within the past 30 days, our consensus EPS projection has moved 0.96% lower. ACB is currently sporting a Zacks Rank of #3 (Hold).

The Medical - Products industry is part of the Medical sector. This group has a Zacks Industry Rank of 149, putting it in the bottom 42% of all 250+ industries.

The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.


Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
 
Aurora Cannabis Inc. (ACB) : Free Stock Analysis Report
 
To read this article on Zacks.com click here.